Due to the increase in spending amounts recently, credit card holders have started looking for ways to increase their limits. By law, the card limit is limited to 4 times the registered income. It is possible to exceed this limit with an additional income statement. Spending control is as important as raising the limit!
TWICE THE EARNINGS OF THE FIRST YEAR
Credit card offers very important benefits when used in accordance with its purpose. The freedom to use the card is limited. The bank takes into account various criteria when determining the card limit. The main indicator at the limit is income. The total first-year limit for the first credit card purchaser is a maximum of 2 times the documented income. For instance; Those who receive an income of 7 thousand lire are entitled to the maximum limit of 14 thousand lire.
CONTACT YOUR AZSA BANK
In subsequent years and for people who have previously owned a credit card, the card limit can be up to 4 times the monthly documented net income as per regulation. In this case, if the income is 7 thousand lire, the limit can increase up to 28 thousand lire.
If the card limit is less than 4 times the monthly income, it is possible to request it by contacting the bank. Internet banking, call centers and ATMs can also be used for this purpose. Sometimes your bank offers to raise your limit. If you approve, your limit will increase.
So, everyone’s limit goes up? Banks evaluate creditworthiness after the limit request. In this case, those with high grades are advantageous, that is, those who pay regularly. On the other hand, especially if the credit card or credit card term debt payments are not regular, the bank may not increase the limit even if the income is sufficient. In this case it is possible to turn to different banks with the advantage of competition.
HOW CAN I GET low grades?
Those whose credit rating is at a risk level can be turned down in their card applications. If your creditworthiness is at a risk level, first apply for a card from the bank you transact with most of the time. However, if your credit card application is still not approved, a blocked credit card (with a pledge agreement) can be obtained from the banks.
For this, you can open a TL, foreign currency or gold account by applying at the bank branch. You can also deposit these assets into a time deposit account. The request for the card is made through the open account. The bank imposes the blocking of the guarantee given. If you have opened an account of 10 thousand lire, the bank can issue a card with a limit of 7-8 thousand lire. Therefore, you can get a credit card without an income statement.
HOW MANY LIRE ARE LIMITED TO WHOM?
HOW MUCH DOES THE MINIMUM CHARGE USE?
The limit is based on the net profit, which is the salary deposited in the bank. The minimum wage was 4,000 253 lire net with a 50.50 percent increase in January. A provisional increase is expected in July and an increase of this amount to 5 thousand lire.
In the current situation, a person who receives a salary beyond the minimum wage can obtain a credit card with an overall limit of 17 thousand lire, if the bank approves it. If the minimum wage earner has other additional recorded income, this income is also taken into account when calculating the card limit.
ATTENTION TO INCOME!
The determination of income is made on the basis of SGK records. Again, income can be determined based on transactions made through the bank. For instance; Regular income such as rents and deposit income can also be taken into account. Although the income figures are different every month, the annual calculation is made and the arithmetic mean is taken, i.e. divided by 12 and included in the monthly income account. Again, if you can document any other income other than that registered with the SGK, notifying the bank can also increase your credit card limit.
DOES IT HAVE AFFECT ON THE ANNUAL FEE?
Credit card fees are determined by the type of card. Consequently, the limit has no effect on the rights to be received. Of course, this is on the initiative of the banks. On the other hand, banks must define the same pay card limit for the commission free card and offer a commission free card. While credit card fees have acquired a legal basis with the “Regulation on procedures and principles relating to fees to be collected from financial consumers” published in the Official Journal on 3 October 2014, the regulation also introduced provisions to protect the consumer.
Consequently, every bank must offer a credit card without any membership fees. If the customer wishes to change the paid card, the bank is obliged to issue a free card with the same limit. In other words, those who do not want to pay a tax on the card every year can contact their bank without wasting time to replace their card with a free one. If, despite the request, a free card is issued, no membership fee can be charged to the existing card. Also, if you don’t use your card for 180 days without interruption and there are no transactions on your card, the card fee is not charged.
A CURRENT Expenditure
The expenses made with credit cards increase day by day in parallel with the prices. The important thing is not to get out of the budget by constantly raising the limit, but to provide for budgetary discipline. For this, it is important to pay the end-of-term card debt within the stipulated time. The fact that your card has a high limit and you do not have an income suitable for this high limit can cause payment difficulties. If you can’t control your budget and are constantly spending relying on a high card limit, lowering your card limit can be an alternative.
As well as? According to the law, the bank must fulfill this request within 7 days of receiving the request to reduce the credit card limit. In other words, banks cannot respond negatively to the request to reduce the limit. If you don’t have a regular income, using a credit card can be risky. Because you have to pay your bills regularly. It is helpful to have an income that meets at least the minimum credit card payment amount. On the other hand, having more than one credit card makes it difficult to check. In this case, you should cancel the others and get used to using only one card.
RIGHTS GRANTED TO STUDENTS
Students can obtain a credit card with a maximum limit of 2 thousand lire, as they will be considered people whose income cannot be determined if they do not work with SGK. In most banks the limit on the student card is around 1,000 lire. On the other hand, if family members have higher limit cards, issuing an additional card may be a more appropriate solution. Post / Bilal Emin Turan
Well, all of that aside, do you know your credit score? In the difficult time we are in, you may need a loan, a loan debt …
WHAT IS A CREDIT DEGREE?
Your financial ratio is the vote calculated to predict the likelihood of paying off your debts in the next 12 months. Everyone who has used a credit card has a credit score. It plays a decisive role, especially when borrowing from banks, but banks don’t make decisions based on creditworthiness alone. It varies between 1-1900. As your rating progresses towards 1900, your risk level decreases. Turkey’s average credit score is 1492. What is your credit score?
HOW DOES IT INCREASE?
It is imperative to manage this degree well to use credit in times of need. If you don’t know your credit score and you learn when you want to use a loan, you can’t increase it all at once. You have to wait at least a few months.
To have a good credit score, you need to use a credit or credit card and make payments on time. It is not necessary to pay the loan installments before the day. Just pay in full on time. Paying all of your credit debt regularly and completing it will also boost your credit rating.
Pay at least the minimum amount of credit card debt. If you pay even 1 TL less than the minimum amount, that debt is considered unpaid and your credit score will go down. I am against this, the debt does not end up paying the minimum, pay as much as possible and close the debt as soon as possible.
If you frequently use an overdraft account, your rating will not decrease unless you exceed the limit.
WILL MY VOTE FALL WHEN I APPLY FOR A LOAN?
Your grade does not change when you apply for a loan. However, if the banks see that they have submitted a lot of questions and received negative feedback, they may rate this situation negatively. The loan you just used may lower your credit score for a while, but you can increase your credit score while making regular payments.
HOW LONG WILL IT TAKE TO CORRECT MY DEBT IF I FORGET TO PAY?
If there has been a delay and you have paid off your debt, your credit score will recover quickly. If you have been delayed twice, your grade will recover by approximately one year.
5K OF BANKS
WHAT ARE BANKS LOOKING FOR WHEN THEY MAKE A LOAN?
one- CHARACTER: shows the willingness and determination to pay when the debt is due or its intention to repay the debt.
2- CAPACITY: Do you have the financial power to repay the loan and generate income?
3- CAPITAL: Is Your Capital, Equity Enough?
4- CONDITIONS: Expresses the situation of the sector in which the loan applicant is located, with the general economic conditions.
5- IN FRONT OF: It is the guarantee of the loan.
WHY IS IT NECESSARY?
When you take out a loan, rent a car and a house, get a job, buy a cell phone or appliances, or become a partner, your credit score will always appear. Some banks offer affordable interest rates based on your credit rating.
WHERE TO LEARN
You can find out your credit rating from your bank application and Findeks.
WHICH CREDIT CARD SHOULD I CLOSE?
Let’s say you have two credit cards, one for three years and the other for eight months, and you want to close one. Close the card you bought eight months ago. The history of the old credit card has a positive effect on your credit rating. Post / Ozlem Denizmen